ADNOC secures equity position, LNG offtake agreement in NextDecade’s RGLNG project

ADNOC secures equity position, LNG offtake agreement in NextDecade’s RGLNG project

ABU DHABI/ WAM ADNOC announced today the acquisition of an 11.7 percent stake in Phase 1 (Trains 1-3) of NextDecade Corporation’s (NextDecade) Rio Grande LNG (RGLNG), a leading liquefied natural gas (LNG) export project located in Texas, United States (US), which is expected to produce a less carbon-intensive LNG. Additionally, ADNOC and NextDecade announced that ...

ABU DHABI/ WAM

ADNOC announced today the acquisition of an 11.7 percent stake in Phase 1 (Trains 1-3) of NextDecade Corporation’s (NextDecade) Rio Grande LNG (RGLNG), a leading liquefied natural gas (LNG) export project located in Texas, United States (US), which is expected to produce a less carbon-intensive LNG. Additionally, ADNOC and NextDecade announced that they have entered into a 20-year LNG offtake agreement from RGLNG Train 4.

The Phase 1 RGLNG equity stake has been acquired through an investment vehicle of Global Infrastructure Partners (GIP), one of the world’s premier infrastructure investors. ADNOC acquired a portion of GIP’s existing equity interest in Phase 1 while NextDecade retains its previously announced expected economic interest in Phase 1 as well as its interests in the Train 4 and Train 5 expansion capacity.

The Phase 1 acquisition marks ADNOC’s first strategic investment in the US as it continues to deliver